Scotiabank Raises JFrog (NASDAQ:FROG) Price Target to $30.00

JFrog (NASDAQ:FROG) had its price objective upped by investment analysts at Scotiabank from $25.00 to $30.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price objective indicates a potential downside of 3.54% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Truist Financial restated a “buy” rating and issued a $35.00 target price (up from $33.00) on shares of JFrog in a research note on Friday. Barclays lowered their target price on JFrog from $50.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Oppenheimer cut JFrog from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 8th. KeyCorp raised their price objective on JFrog from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, September 12th. Finally, Bank of America cut their target price on JFrog from $54.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $37.83.

JFrog Price Performance

Shares of NASDAQ FROG opened at $31.10 on Friday. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of -69.11 and a beta of 0.93. JFrog has a 1-year low of $22.91 and a 1-year high of $48.81. The business has a 50-day moving average of $29.14 and a 200-day moving average of $32.35.

JFrog (NASDAQ:FROG) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The company had revenue of $103.04 million during the quarter, compared to analysts’ expectations of $103.53 million. JFrog had a negative return on equity of 4.63% and a negative net margin of 12.35%. Research analysts expect that JFrog will post -0.28 EPS for the current fiscal year.

Insider Activity at JFrog

In other JFrog news, CRO Tali Notman sold 10,699 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $28.29, for a total value of $302,674.71. Following the transaction, the executive now owns 536,714 shares of the company’s stock, valued at $15,183,639.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CRO Tali Notman sold 10,699 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $28.29, for a total transaction of $302,674.71. Following the completion of the transaction, the executive now directly owns 536,714 shares in the company, valued at $15,183,639.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ben Haim Shlomi sold 35,550 shares of the firm’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $30.00, for a total value of $1,066,500.00. Following the completion of the sale, the chief executive officer now owns 4,975,229 shares in the company, valued at $149,256,870. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 126,031 shares of company stock valued at $3,618,247 in the last quarter. Insiders own 15.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC raised its holdings in shares of JFrog by 16.4% during the first quarter. Janney Montgomery Scott LLC now owns 22,938 shares of the company’s stock valued at $1,014,000 after buying an additional 3,233 shares during the last quarter. Duality Advisers LP bought a new stake in JFrog during the 1st quarter valued at $205,000. Swiss National Bank boosted its position in JFrog by 8.0% during the 1st quarter. Swiss National Bank now owns 165,600 shares of the company’s stock worth $7,323,000 after acquiring an additional 12,200 shares during the period. Thoroughbred Financial Services LLC boosted its position in JFrog by 52.3% during the 1st quarter. Thoroughbred Financial Services LLC now owns 17,830 shares of the company’s stock worth $788,000 after acquiring an additional 6,125 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in shares of JFrog by 394.2% in the first quarter. Russell Investments Group Ltd. now owns 28,664 shares of the company’s stock worth $1,268,000 after purchasing an additional 22,864 shares in the last quarter. 85.02% of the stock is owned by institutional investors and hedge funds.

JFrog Company Profile

JFrog Ltd. provides end-to-end hybrid software supply chain platform in the United States, Israel, India, and internationally. The company offers JFrog Artifactory, a package repository that allows teams and organizations to store, update, and manage their software packages; JFrog Curation that functions as a guardian outside the software development pipeline, controlling the admission of packages into an organization, primarily from open source or public repositories; JFrog Xray, which scans JFrog Artifactory to secure all software packages; JFrog Advanced Security, an optional add-on for select JFrog subscriptions; and JFrog Distribution that provides software package distribution.